Wednesday, October 23, 2013

Climate Change, Public Policy, and the University, by Robert Stavins:
Over the past year or more, across the United States, there has been a
groundswell of student activism pressing colleges and universities to divest
their holdings in fossil fuel companies from their investment portfolios.
On October 3, 2013, after many months of
assessment,
discussion, and debate, the President of Harvard University,
Drew Faust, issued
a long, well-reasoned, and – in my view – ultimately sensible
statement on “fossil
fuel divestment,” in which she explained why she and the Corporation
(Harvard’s governing board) do not believe that “university divestment from
the fossil fuel industry is warranted or wise.” I urge you to read
her statement,
and decide for yourself how compelling you find it, and whether and how it
may apply to your institution, as well.

I agree with these students that fossil-fuel divestment by the University
would not have financial impacts on the industry, and I also agree with
their implication that it would be (potentially) of symbolic value only.
However, it is precisely because of this that I believe President Faust made
the right decision. Let me explain. ...

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'Climate Change, Public Policy, and the University'

Robert Stavins:

Climate Change, Public Policy, and the University, by Robert Stavins:
Over the past year or more, across the United States, there has been a
groundswell of student activism pressing colleges and universities to divest
their holdings in fossil fuel companies from their investment portfolios.
On October 3, 2013, after many months of
assessment,
discussion, and debate, the President of Harvard University,
Drew Faust, issued
a long, well-reasoned, and – in my view – ultimately sensible
statement on “fossil
fuel divestment,” in which she explained why she and the Corporation
(Harvard’s governing board) do not believe that “university divestment from
the fossil fuel industry is warranted or wise.” I urge you to read
her statement,
and decide for yourself how compelling you find it, and whether and how it
may apply to your institution, as well.

I agree with these students that fossil-fuel divestment by the University
would not have financial impacts on the industry, and I also agree with
their implication that it would be (potentially) of symbolic value only.
However, it is precisely because of this that I believe President Faust made
the right decision. Let me explain. ...